The conference call was meant to be short but had turned tense, and surprisingly emotional, very quickly. As a financial ad- or the investment bank for which 1 worked had operator as a client. The operator had suffered a blowout the previous year and now was in dire-need of capital to fund a drilling program. We'd spent months educating this client on different financing options and potential sponsors, present- ing to respective suitors in data rooms and on and shows, and sorting through financing options.
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